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20121219
20121219
Search Results 0 to 3 of about 4 (some duplicates have been removed)
policy. >>> in the u.s. president barack obama and republican house speaker john boehner are scrambling to avoid the looming fiscal cliff. they're trying to reach an agreement on how to tax the wealthy. the president offered to limit tax hikes for people earning more than $400,000 a year. instead of his original proposal of $250,000. but republicans are calling for more concessions. >> what we've offered meets the definition of balance. but the president is not there yet. >> boehner said he will submit a bill to the house later this week proposing higher taxes only on people with income over $1 million a year. white house spokesperson jay carney said the two sides are close to a deal. >> the president has demonstrated obvious willingness to compromise and to move more than halfway. toward the republicans. >> spending cuts and tax increases including hikes on the middle class are set to take effect in the new year. the democrats and republicans will need to reach an agreement before then or the u.s. could face a recession. >>> let's check on the markets for this wednesday morning. well,
years. bnsf, the engine that connects us. >> and by the bill and melinda gates foundation. dedicated to the idea that all people deserve the chance to live a healthy, productive life. >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> woodruff: the white house had a new proposal on the table today in the fiscal cliff negotiations. house republicans said it fell well short, but the two sides kept at it, hoping to avert across-the-board tax hikes and steep mandatory spending cuts in 2013. >> we're moving closer. let me say that. it looks more encouraging today than it did yesterday. >> woodruff: there were some voices today like california republican congressman wally herger who saw signs of a deal in the works. president obama offered monday to lower his target for new revenue to $1.2 trillion over ten years. down $400 billion fom his first offer. he also raised the threshold for higher tax rates to house
out later. as proof, they argue congress and the president are already using disasters and war spending as loopholes to avoid making tough cuts. >> they are doing that on the one side, then proposing additional stimulus spending on the other side, and then claiming that sometime next year they'll come up with some savings. that's a very troubling formula to me. >> reporter: if a grand bargain doesn't come together in the next few days, we may fall off the fiscal cliff and then wait for a new congress to put the pieces back together in the new year. darren gersh, "n.b.r.," washingt. >> susie: well, roger altman is confident democrats and republicans will strike a deal and avoid falling off the fiscal cliff. he was deputy treasury secretary in the clinton administration and is now executive chairman and founder of evercore partners. >> susie: roger, so great to have you back on "nightly business report." >> thank you, susie. >> susie: nice to see you. why are you so optmistic there is going to be a fiscal cliff deal? >> i would cite two broad reasons, and then a few reasons speci
Search Results 0 to 3 of about 4 (some duplicates have been removed)